Account-based MarketingAccount-based marketing (ABM), also known as key account marketing, is
a strategic approach to business marketing based on account
awareness[1] in which an organization considers and communicates with
individual prospect or customer accounts as markets of one.
Account-based marketing is typically employed in enterprise level
sales organizations.
Account based marketing can help companies to:Increase account relevance
Engage earlier and higher with deals
Align marketing activity with account strategies
Get the best value out of marketing
Inspire customers with compelling content
Identify specific contacts, at specific companies, within a specific
marketWhile business marketing is typically organized by industry,
product/solution or channel (direct/social/PR), account-based
marketing brings all of these together to focus on individual
accounts
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Customer
In sales, commerce and economics, a customer (sometimes known as a
client, buyer, or purchaser) is the recipient of a good, service,
product or an idea - obtained from a seller, vendor, or supplier via a
financial transaction or exchange for money or some other valuable
consideration.[1][2]Contents1 Etymology1.1 Clients
1.2 Customers2
Customer segmentation
3 See also
4 Notes4.1 References5 Further readingEtymology[edit]
Early societies relied on a gift economy based on favours. Later, as
commerce developed less permanent human relations were formed,
depending more on transitory needs rather than enduring social
desires. Although such distinctions have no contemporary semantic
weight, certain (short term) sectors prefer client while more stable,
repeat business operations tend to prefer customer
Clients[edit]
The term client is derived from Latin clientem or clinare meaning "to
incline” or “to bend," and is related to the emotive idea of
closure
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Marketing Channel
A marketing channel is the people, organizations, and activities
necessary to transfer the ownership of goods from the point of
production to the point of consumption. It is the way products and
services get to the end-user, the consumer; and is also known as a
distribution channel.[1] A marketing channel is a useful tool for
management,[2] and is crucial to creating an effective and
well-planned marketing strategy.[3]
Another less known form of the marketing channel is the Dual
Distribution[4] channel. This channel is a less traditional form that
allows the manufacturer or wholesaler to reach the end-user by using
more than one distribution channel. The producer can simultaneously
reach the consumer through a direct market, such as a website, or sell
to another company or retailer that will reach the consumer through
another channel, i.e., a store
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Price
In ordinary usage, a price is the quantity of payment or compensation
given by one party to another in return for one unit of goods or
services.[1]
In modern economies, prices are generally expressed in units of some
form of currency. (For commodities, they are expressed as currency per
unit weight of the commodity, e.g. euros per kilogram.) Although
prices could be quoted as quantities of other goods or services, this
sort of barter exchange is rarely seen. Prices are sometimes quoted in
terms of vouchers such as trading stamps and air miles. In some
circumstances, cigarettes have been used as currency, for example in
prisons, in times of hyperinflation, and in some places during World
War II. In a black market economy, barter is also relatively common.
In many financial transactions, it is customary to quote prices in
other ways. The most obvious example is in pricing a loan, when the
cost will be expressed as the percentage rate of interest
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Commoditization
In business literature, commoditization is defined as the process by
which goods that have economic value and are distinguishable in terms
of attributes (uniqueness or brand) end up becoming simple commodities
in the eyes of the market or consumers. It is the movement of a market
from differentiated to undifferentiated price competition and from
monopolistic to perfect competition
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Value Proposition
A value proposition is a promise of value to be delivered,
communicated, and acknowledged. It is also a belief from the customer
about how value (benefit) will be delivered, experienced and acquired.
A value proposition can apply to an entire organization, or parts
thereof, or customer accounts, or products or services.
Creating a value proposition is a part of business strategy. Kaplan
and Norton say "Strategy is based on a differentiated customer value
proposition. Satisfying customers is the source of sustainable value
creation."[1]
Developing a value proposition is based on a review and analysis of
the benefits, costs, and value that an organization can deliver to its
customers, prospective customers, and other constituent groups within
and outside the organization
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Northrop Grumman
Northrop
GrummanGrumman Corporation (NYSE: NOC) is an American global
aerospace and defense technology company formed by Northrop's 1994
purchase of Grumman. The company was the fifth-largest defense
contractor in the world in 2015.[3] Northrop
GrummanGrumman employs over
68,000 people worldwide.[4] It reported revenues of $24.508 billion in
2016.[5] Northrop
GrummanGrumman ranks No
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Key Account
An account manager is a person who works for a company and is
responsible for the management of sales and relationships with
particular customers. An account manager maintains the company's
existing relationships with a client or group of clients, so that they
will continue using the company for business. The account manager does
not manage the daily running of the account itself. They manage the
relationship with the client of the account(s) they are assigned to.
Generally, a client will remain with one account manager throughout
the duration of hiring the company. Account managers serve as the
interface between the customer service and the sales team in a
company.[1] They are assigned a company's existing client accounts.
The purpose of being assigned particular clients is to create long
term relationships with the portfolio of assigned clients
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The Marketing Practice
The Marketing Practice, also known as TMP, is a global,
business-to-business marketing agency headquartered in Oxfordshire,
and with offices in London,
MunichMunich and Seattle. The agency works with
IT, technology and professional services companies including
Microsoft, Hewlett Packard Enterprise, Salesforce,
CapgeminiCapgemini and
Telefónica O2, and has a strong focus on driving commercial results
from marketing.
The B2B agency was founded by Clive McNamara in 2002 from his front
room in Ardington, Oxfordshire. Early clients included
FujitsuFujitsu and
eGain. McNamara was formerly Marketing Director at a large IT software
company
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Intellectual CapitalIntellectual capital is the intangible value of a business, covering
its people (human capital), the value inherent in its relationships
(Relational capital), and everything that is left when the employees
go home[1](Structural capital), of which
Intellectual propertyIntellectual property (IP) is
but one component.[2] It is the sum of everything everybody in a
company knows that gives it a competitive edge.[3] The term is used in
academia in an attempt to account for the value of in
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Business MarketingBusiness marketingBusiness marketing is a marketing practice of individuals or
organizations (including commercial businesses, governments and
institutions). It allows them to sell products or services to other
companies or organizations that resell them, use them in their
products or services or use them to support their works.
Business marketingBusiness marketing is also known as industrial marketing or
business-to-business (B2B) marketing. Despite sharing dynamics of
organizational marketing with marketing to governments,[clarification
needed] business-to-government marketing is different.Contents1 Origins
2 Business and consumer markets
3 Vs
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SalesSalesSales is activity related to selling or the amount of goods or
services sold in a given time period.
The seller or the provider of the goods or services completes a sale
in response to an acquisition, appropriation,[1] requisition or a
direct interaction with the buyer at the point of sale. There is a
passing of title (property or ownership) of the item, and the
settlement of a price, in which agreement is reached on a price for
which transfer of ownership of the item will occur. The seller, not
the purchaser generally executes the sale and it may be completed
prior to the obligation of payment
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Account-based MarketingAccount-based marketing (ABM), also known as key account marketing, is
a strategic approach to business marketing based on account
awareness[1] in which an organization considers and communicates with
individual prospect or customer accounts as markets of one.
Account-based marketing is typically employed in enterprise level
sales organizations.
Account based marketing can help companies to:Increase account relevance
Engage earlier and higher with deals
Align marketing activity with account strategies
Get the best value out of marketing
Inspire customers with compelling content
Identify specific contacts, at specific companies, within a specific
marketWhile business marketing is typically organized by industry,
product/solution or channel (direct/social/PR), account-based
marketing brings all of these together to focus on individual
accounts
[...More...]